Sorrento Therapeutics, Inc. receives Court approval for $75 million financing in Chapter 11 case
Sorrento Therapeutics, Inc., a biopharmaceutical company dedicated to the development of life-saving therapeutics to treat cancer, intractable pain, and infectious disease, today announced that the U.S. Bankruptcy Court for the Southern District of Texas granted interim approval of Sorrento's $75 million debtor-in-possession financing from JMB Capital Partners, in connection with Sorrento's chapter 11 case, which was filed on February 13, 2023
The financing will provide Sorrento with immediate liquidity so that it can continue operating its business as usual during its chapter 11 case. A hearing for final approval of the financing is currently set for March 29, 2023.
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